The laws of economics always indicated that the political law of Obamacare was never going to work.
As the Chicago Tribune wrote in 2016, Obamacare failed because it flunked Economics 101 and Human Nature 101.
So what does failure look like? Insurance companies leaving the market place and skyrocketing premiums.
Today’s headline is from Florida:
Health insurers in Florida request premium hikes as high as 71%
“The Florida office notes declining insurer participation since 2015. In that year there were 21 participating insurers. In 2016 there were 19, in 2017 there were 14, and in 2018 there are 9, which includes the companies that participate off exchange. They also report there will be 42 counties in their state that will only have one health insurer participating on the exchange.”
That is not unique to Florida. It is a nationwide trend.
2018 will be the year of the total failure of Obamacare. The question is: Will it be the year of reckoning for the politicians who backed it or the politicians that failed to replace it?
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